Watch Industry Luxury Vs Smart

Introduction
History and Evolution of Time Keeping Machines
Watch is a small time keeping machine, historically worn on the wrist or attached on a chain carried in the pocket or around the neck for convenience. Timekeeping has a history dating back to ancient times. The first watch in the 15th century made was spring powered and was strictly mechanical, but with the technological advances this mechanism was replaced by quartz vibrations or electromagnetic pulses. Figure 1 shows the evolutionary era of the various time keeping machines/watches since 1300 BC from the sundial, water clock, to the mechanical ...view middle of the document...

In recent years, ‘smart watches’ have been released in the market by the technological companies like Samsung, Apple and Google with an aim to conquer the wrist watch industry market.

Smart Watches
A smart watch is a computing device which utilizes wearable technology worn on a user's wrist that offers functionality and capabilities similar to those of a smartphone. Smartwatches are designed to, either on their own or when paired with a smartphone, providing features like connecting to the internet, running mobile apps, making calls, messaging via text or video, checking caller IDs, accessing stock and weather updates, providing fitness monitoring capabilities, offering GPS coordinates and location directions, and more.

A number of companies either currently have smart watches on the market or are rumored to be developing smartwatches, including Google, Samsung, Apple (the "iWatch"), LG, Sony, Pebble and various others.

Wearable technology: Many technical companies discovered that human beings are an inviting market of mobile computing and communications platform, and their picked up the ‘smart watch’ which is simple combination of smart phone + bluetooth.

Objective of the study
The main aim of this project is to assess the impact of ‘new emerging smart watches’ over the ‘well established watches’ in general and luxury watches in particular.

Results of Watch Industry
Global watch scenario of luxury watch industry
Most of the important players in the global watch industry are Switzerland, Japan, Hong Kong, and Mainland China. Switzerland produces mid-range to high-end watches, and therefore has a smaller volume than China, Hong Kong, and Japan. But it has the highest value produced as seen in Figure 2.

The Swiss watch making industry is unique in the world. Unsurprising as it may seem, this is an undeniable fact, particularly if we consider the latest figures. Despite an unpredictable global...

Other assignments on Watch Industry - Luxury Vs Smart

820 words - 4 pages
advertisements in an industry where brand awareness is low. While Triton was successful in building awareness, their sales are mainly in cheap electric segment (Exhibit 3). It’s also unknown how long this took to build. DIYers are shopping at much lower price points covered by Gainsborough. Early association with discount channels could hurt the premium brand; however future moves to introduce Gainsborough with Quartz technology could grow shares in the

1379 words - 6 pages
changing. The huge leap forward for YouTube was UGC (user generated content) but this emerged into new stars, new ways of producing content and new ways of consuming it. And ultimately like the Innovator’s Dilemma, the product eventually becomes better and better to the point where an industry builds around it.
Snapchat now has messaging (like WhatsApp, WeChat, etc) but also has “stories” (a day in the life of a user or media brand) and “discover

6279 words - 26 pages
|23.9 |
Table 1.1a Consumer Segmentation: 2006 - 2010
According to the Social National statistic Euromonitor International, Singaporeans are beginning to settle for the desire of luxury. This can be shown in Table 1.1a. Firstly, the number of household with annual disposable income have increased, thus more household are able to afford more pricey items. Secondly, Singaporeans have become more aware of famous brands and

2168 words - 9 pages
. Ford would be smart to use this strategy to attract Chevy Camaro customers who spend more money on less luxury and gas efficiency. Camaro is the biggest competition to Mustang for this reason targeting their pricing strategy is smart.
Distribution Channels
There are several types of distribution channels in marketing. The important thing is finding the right distribution channel or channels for your product. Distribution channel is the method in

5332 words - 22 pages
for only the best.
* Results. Deliver great results! Our success is measured by our results!
The mission and values of Jamba Juice are simple and straight-forward. They are not entirely focused on the product served but are absolutely geared towards a healthy and happy lifestyle, something they want both their employees and customers to lead. The mission statement and the values of F.I.B.E.R show the company does have SMART Goals. The

1197 words - 5 pages
watch a movie on demand is growing exponentially.
Market Structure
Due to fast increase in technology, Netflix is in an Oligopoly structure. One of the primary indicators that they are in this structure is that there are only four major firms in the video rental industry ("Economics Online", n.d.). The video rental industry can be determined to be controlled by Blockbuster, Comcast, Redbox, and finally Netflix. These companies are the only

2320 words - 10 pages
Motorenwekre company logo, from which the BMW Company grew, combined with the blue and white colors of the flag of Bavaria, reversed to produce the BMW roundel. These colors where meant to represent the free state of Bavaria.
The product range of BMW was expanded and soon it extended beyond engines for the aircraft industry to include motorcycles as broader sections of the population gained access to motorized transport. This was an area to which

Similar Documents

1218 words - 5 pages
phones are made to enhance the life of the users. As we expect progress in its advancement, it is likely that the gadget and the users are smart.
References
Jobs, S. (Performer). (2007). Macworld Conferences & Expo. San Francisco, California, United States of America.
Johnson, J. (n.d.). PDA vs. Smartphone. Retrieved August 12, 2012, from About.com: http://palmtops.about.com/od/pdabasics/a/PDAvsSmartphone.htm
Rauch, P. (2005). Cell Phone

4390 words - 18 pages
risk that is concerned with this business idea will be socio-economic risk. Smart TV is still considered to be luxury item to many consumers, which usually shows more sensitivity to economic condition. Eurozone crisis, volatile US economy and slowing Chinese growth are believed to become the biggest threat to the industry for at least next couple of years according to Weisbrot (2012).
BBC (2012) suggests that in fact Eurozone crisis is

513 words - 3 pages
NEW SWISS WATCH TO HIT MANILA: BOMBERG, A TIMEPIECE CAPTURING THE URBAN SPIRIT
Provocative, audacious and unconventional, these three words best encapsulate the style statement of Swiss watchmaking brand BOMBERG that has entered the world of timepieces for more than two years now. Through the imaginative notion of breaking the rules, thinking out of the box, and crossing the line, an extraordinary creativity has established a trusted watch

5802 words - 24 pages
Mergers and Acquisitions24 9.0 REFERENCES25 1.0 Executive Summary The aim of this paper is to discuss the key strategic issues that LVMH face and establish some future recommendations that can be implemented in order for LVMH to remain successful in the luxury industry. In order to determine the key strategic issues a number of analysis tools were applied to the case study; they include Porter's 5 forces model, SWOT analysis and PESTEL. It was found